Will the IMF intervention remove tax breaks for sports people?

Fianna Downfall

Hi,
So the top Irish Rugby players play here even though they would get paid more in the UK or France. This is because, they get a tax break for playing here.

If the IMF / EU intervention means this goes, will the days of our best players playing here end?

JustinDee

The least of this country's problems, to be honest.
There are bugger all details on what this tail-between-legs cry for help from the govt actually entails as it is.
Nothing on the effects on the banking system, cuts and tax hikes so it'll be a while before we know anything on something like a tax break for a retiring player.

Teferi

JustinDee wrote: »

The least of this country's problems, to be honest.

Yeah but this is the rugby forum so it's relevant here (if not really anywhere else).

Fianna Downfall

I can only see it very difficult to keep any tax exemption or tax break when the IMF and EU are lending you money to bail out your failed economy.

If the government manage to keep the low corporation tax, they'll be doing well. The sports tax I can see pushed way down the priority list.

IMF / EU will be surely thinking, you can make those decisions again when you can look after your own finacial affairs.

damselnat

The IMF does not tell the govt what exact cuts and reforms they should make, they make (very strong!) recommendations which are almost always followed by the govt. Tbh the income that would be gained (or rather, costs that would be cut) by slashing taxbreaks for artists and sportspeople is so negligible, and as another poster has said there's much bigger problems on their plate right now, that I can't see it being cut, certainly not immediately, it's not a likely scenario any time soon as the govt stands to gain very little, for both the reason of the figure they would gain by not allowing breaks, and for the loss of income as there would undoubtedly be a outflow of people's capital from the country if their taxes were raised by any substantial amount.

That being said I'm just an economics student, and the way things have gone the last few years, who'd ever know!:eek:

Junior

We could be in for interesting times here folks, look if the IMF 'reccommends' that the dole and the pension are reduced by a few quid and there is uproar, the government has got to have viable alternatives to make 'savings' stuff like the bike to work scheme, artists and sportspeople tax breaks could be among the first to go.